EXHIBIT 23 - INDEPENDENT ACCOUNTANTS' REVIEW REPORT
                                          
                                          
                                          
The Board of Directors
Cubic Corporation


We have reviewed the accompanying consolidated condensed balance sheet of Cubic
Corporation as of June 30, 1998, and the related consolidated condensed
statement of income for the three and nine-month periods ended June 30, 1998 and
1997, and the consolidated condensed statement of cash flows for the nine-month
periods ended June 30, 1998 and 1997.  These financial statements are the
responsibility of the Company's management.

We conducted our reviews in accordance with standards established by the
American Institute of Certified Public Accountants.  A review of interim
financial information consists principally of applying analytical procedures to
financial data, and making inquiries of persons responsible for financial and
accounting matters.  It is substantially less in scope than an audit in
accordance with generally accepted auditing standards, which will be performed
for the full year with the objective of expressing an opinion regarding the
financial statements taken as a whole.  Accordingly, we do not express such an
opinion.

Based on our reviews, we are not aware of any material modifications that should
be made to the accompanying consolidated condensed financial statements referred
to above for them to be in conformity with generally accepted accounting
principles.

We have previously audited, in accordance with generally accepted auditing
standards, the consolidated balance sheet of Cubic Corporation as of September
30, 1997, and the related consolidated statements of income, retained earnings,
and cash flows for the year then ended (not presented herein) and in our report
dated December 4, 1997, we expressed an unqualified opinion on those
consolidated financial statements.  In our opinion, the information set forth in
the accompanying consolidated condensed balance sheet at September 30, 1997, is
fairly stated in all material respects in relation to the consolidated balance
sheet from which it has been derived.

                                                  ERNST & YOUNG LLP
San Diego, California
August 6, 1998